IIFT Daily Note with Peter Brown

Slightly weaker

Posted by:  |  Time: 7:34 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

Markets were pretty much range bound yesterday. Lower forecast for Japan broke the range overnight on the Euro. Gold got hit late in US trading over concerns about QE3.

Really we have to wait and see what we get at Jackson Hole on Friday but expectations are diminishing.

S&P now very toppish above 1412  Good support at 1404  than 1396

Euro topped out at 1.2535 support is at 1.2464

Gold held again between 1655 and 1660   toppish above 1672

We should be stable ahead of Friday so look to sell at resistance and buy at support, bias is to the downside on all.

Comments are closed.